xbtusd

UBS Expects Gold to Hit $2,000; What Does It Mean for Bitcoin?

Source Node: https://bitcoinist.com/ubs-expects-gold-to-hit-2000-what-does-it-mean-for-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=ubs-expects-gold-to-hit-2000-what-does-it-mean-for-bitcoin
Time Stamp: August 4, 2020 2:50 AM - Modified On: May 21, 2021 - Published By:
Source Cluster:
Republished By Plato

UBS Global predicts that gold would climb to $2,000, at least by September, just as the metal’s correlation with Bitcoin reaches a new high. Wayne Gordan, executive director of Commodities and Forex at UBS, projected negative US real yields as the core reason behind the increasing bids for gold. The other key point, Mr. Gordon stated, is the ongoing plunge in the US dollar. Bitcoin traders should brace for a decent upside momentum led by the gold market. It is because of the increasing realized correlation between the two assets.

Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Source Node: https://www.newsbtc.com/2020/08/01/crypto-tidbits-bitcoin-11k-ethereum-2-cardano-shelley/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-tidbits-bitcoin-11k-ethereum-2-cardano-shelley
Time Stamp: August 1, 2020 12:00 AM - Modified On: May 21, 2021 - Published By:
Source Cluster:
Republished By Plato

Another week, another round of Crypto Tidbits. It’s been an explosive week for the Bitcoin and crypto market, to say the very least. Bitcoin surged from under $10,000 to as high as $11,500 this week. Over the past seven days, the asset has gained approximately 20% — the best weekly performance in many months. Chart of BTC's price action over the past two weeks from TradingView.com Bitcoin’s recent price action comes as a breath of fresh air for crypto traders, which had to deal with BTC flatlining in the $9,000s for